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Rental Market Strengthens in Ballarat

The June residential rental vacancy rate for Ballarat has decreased to 2.6%, from 2.8% in May according to the latest figures released by the Real Estate Institute of Victoria.

Ballarat’s median rent for houses decreased to $330 per week for June, from $340 per week in May and units/townhouses remained the same at $280 per week.

The Regional Victorian vacancy rate dropped from 2.0% to 1.8% over the month, however median house rents still remained unchanged on $350 per week while units rose $5 to $300 per week.

In Geelong, house rental prices went up by $10 to $400 per week while house rents in Bendigo fell by $10 to sit at $320 per week.

The vacancy rate in Melbourne increased again to 3.0% from 2.8% in May, median rents for houses in Metro Melbourne also increased, $13 to $473 per week and the median rent for units also increased, $10 to $420 per week.

Source: REIV

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